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1. What are the ancient proofs of presence of banking system? Traces of information regarding existing of banking and financial system are found in India right from Vedic era to Buddhist, Mauryan, Satavahana, Sangam, Rajpoot, Sultanate as well as Mughal periods. The most ancient are the loan deeds of Vedic era called rnapatra or rnalekhya. 2. Which financial ..
The government has unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders. Proposed Merger Punjab National Bank, Oriental Bank of Commerce and United Bank of India will combine to form the nation’s second-largest lender. Canara Bank and Syndicate Bank will merge. Union Bank ..
In a slew of measures announced by the Finance Minister of India, Nirmala Sitharaman on 30th August, 2019, to take the country out of economic doldrums, one particular step of the government has stood out. This was the planned merger of 10 public sectors into 4 banks. The anchor banks for this merger will be ..
Public Sector Banks in India refers to those banks in which the Government equity / shareholding is more than 50%. At present, there are 22 Public Sector Banks in India of which 21 are scheduled commercial banks while one viz. India Post Payment Bank is a payment bank. These along with their current government equity ..
1. What is meaning of Nationalization of Bank? Nationalization refers to an act of taking an industry or assets into the public ownership. In context of banks, it means that banks which were earlier in private sector were transferred to the public Sector by the act of nationalization. Opposite of Nationalization is privatization. 2. What ..
Blue Chip Stocks refer to stocks of high value which give huge returns in the long run. They are shares of highly recognized and large companies which have proven record of sound financial output and standing. These stocks are highly priced as the tremendous goodwill as they are usually the market leaders in their industries. ..
The History of Banking in India is as old as Vedic Civilization. For example, in Vedic age the loan deeds called rnapatra or rnalekhya were prevalent. Interest rates as well as usury (सूदखोरी ) was prevalent in Vedic India. The Vedic word Kusidin refers to an usurer. Manusmriti condemns usury and calls it an acceptable means of acquiring wealth. Existence of ..
Anup Sankar Bhattacharya has been appointed as the Director of the Institute of Banking Personnel Selection (IBPS). He took the place of M Balachandran. Mr.Bhattacharya was the part of Advisory Board of Central Vigilance Commission. He was overseeing security issues at IBPS. After the abolition of Banking Services Recruitment Board, IBPS plays a pivotal role ..